The shares were acquired on Oct 5 through an off-market transaction. Maran's direct holding in SpiceJet now stands at 17.72 per cent.

In June, Maran and Kal Airways had agreed to buy 37.7 per cent in the carrier from US investor Wilbur Ross and Royal Holdings Services, held by the Kansagra family, for 7.39 billion rupees at 47.25 rupees a share.